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1253 Malta Ln Foster City, CA 94404

3 Beds 3 Baths 1,880 sqft Built 1976

INVESTimate

$1,738,000

List Price

$5,130

$4,880 - $5,380

Rent Est.

$1,938,044  ( +11.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $924.47
  • 6 Days on Market
  • MLS # : ML81806719
  • Updated Date : 08/21/2020 at 14:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,880 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Jff

Listing Agent's Description

Welcome to 1253 Malta Lane. Located in one of Foster City's sought after neighborhoods, this meticulous maintained and beautifully updated 3br/2ba home is the Perfect Place to Raise your Family. Very spacious bedrooms on the upper level Plus a Bonus Loft/Open Study. Create wonderful meals in this Open Eat- in Family Kitchen, breakfast bar with granite counters, and built in entertainment center. Soaring ceilings in the Living and Dining areas with wood burning fireplace and overlooks the private backyard. Discover for yourself the many wonderful features and numerous upgrades this home has to offer.. Newer Central Air Conditioning, upgraded windows, sliders, plantation shutters , Solar Panels to name a few. Come experience this wonderful home for yourself. Call and schedule your private viewing today.

SEE MORE

MARKET HIGHLIGHTS

  • San Jose metro employment growth has been at 2.2% in 2018 and predicted to grow at 1.9% in 2019 (USMayors.org, 2018)
  • San Jose metro contributes to 9% of California state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Palo Alto, Redwood City, Mountain View and San Mateo together attracted around $11 billion in venture capital funding in 2019 making Silicon Valley still attractive to technology investments (Crunchbase News, 2020)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • San Jose metro's economy has been worth $282.2 billion in Gross Metro Product (GMP) in 2018 and is projected to grow to $298.6 billion in 2019. GMP measures the productivity of the metro. (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Pitcairn

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $450k1768k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Pitcairn

NeighborhoodNIR Market*CityMarket2010Year2000 Q32019 Q2250030003500400045005000Rent in $23075458

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Foster City Elementary School Primary Regular 900 36 10
Bowditch Middle School Middle Regular 998 43 9
San Mateo High School High Regular 1,555 76 7

Foster City Elementary School

  • Education Level: Primary
  • # of students: 900
  • # of teachers: 36
10
GreatSchools Rating

Bowditch Middle School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 43
9
GreatSchools Rating

San Mateo High School

  • Education Level: High
  • # of students: 1,555
  • # of teachers: 76
7
GreatSchools Rating
 

$1,564,200$1,911,800$1,738,000

PURCHASE PRICE

$4,617$5,643$5,130

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,130
EXPENSES Loan Payment -$6,412
Property Tax -$1,613
Property Insurance -$73
HOA -$228
Property Management Fees -$200
CASH FLOW
-$3,396

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,738,000

PROJECTED PRICE

$5,130

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.83%
Appreciation Year (1-5) 11.51%
Maintenance Year (1-5) 8.00%
Vacancy 5.92%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$466,320

INVESTMENT

$466,320

Down Payment
$434,500
Rehab Estimate
$5,750
Closing Costs
$26,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$6,412

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $434,500
Loan Amount $1,303,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$25

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $5,130

    LIST RENT
  • $2.73

    LIST RENT PER SQFT
  • $5,344

    COMP ESTIMATED VALUE
  • $2.84

    COMP AVG. RENT PER SQFT
Comps Range
$4,700
1$4,7002$5,1303$5,4004$5,5005$5,800
$5,800
RENT COMPS ANALYSIS
  • 1253 Malta Ln Foster City, 2
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,130
    • $2.73
    •  
  • 32 Williams Ln Foster City, 1
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1986
    property image
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.81
    •  
  • 784 Vespucci Ln Foster City, 3
    • 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1977
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,400
    • $2.80
    •  
  • 604 San Nicholas Ln Foster City, 4
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1977
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.93
    •  
  • 634 Greenwich Ln Foster City, 5
    • 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1977
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,800
    • $2.83
    •  
PROPERTY LISTING DETAILS
Vivian Herrera
Better Homes And Gardens Real Estate Jff
BESbswy